COMMISSIONER OF TAXATION
The Commissioner of Taxation, Chris Jordan gives notice of the following Rulings, copies of which can be obtained from Branches of the Australian Taxation Office or at http://law.ato.gov.au.
NOTICE OF RULINGS | ||
Ruling Number | Subject | Brief Description |
TD 2013/1 | Income tax: will interest on a full recourse loan be denied deductibility as a consequence of Division 247 of the Income Tax Assessment Act 1997 where that loan is used to prepay interest on another loan which is a capital protected borrowing? | The Determination is an expression of the Commissioner’s opinion on deductibility of interest on full recourse loans. The Determination applies to years of income commencing both before and after its date of issue. |
TD 2013/2 | Income tax: does ordinary income derived by an individual from allowing wind farming infrastructure to be constructed, operated and accessed on freehold land that they own and use in carrying on a primary production business constitute ‘assessable primary production income’ of that individual for the purposes of Division 392 of the Income Tax Assessment Act 1997? | The Determination is an expression of the Commissioner’s opinion on income received from wind farming infrastructure. The Determination applies to years of income commencing both before and after its date of issue. |
CR 2013/5 | Income tax: Cape PLC conversion of employee share scheme interests from rights to options | The Ruling sets out the Commissioner’s opinion on the way in which section 83A-120 of the Income tax Assessment Act 1997 applies to the defined class of entities, who take part in the scheme to which this Ruling relates. The Ruling applies from 1 July 2012 to 30 June 2013. The Ruling continues to apply after 30 June 2013 to all entities in the specified class who entered into the specified scheme during the term of the Ruling. |
CR 2013/6 | Income tax: Aquila Resources Limited Long Term Incentive Plan | The Ruling sets out the Commissioner’s opinion on the way in which various provisions of the Income Tax Assessment Act 1997 apply to the defined class of entities, who take part in the scheme to which this Ruling relates. The Ruling applies from 1 July 2012 to 30 June 2016. The Ruling continues to apply after 30 June 2016 to all entities within the specified class who entered into the specified scheme during the term of the Ruling. |